Strategic Investment Underscores Tyco's Commitment to Open Innovation and Standards
Neuhausen, Switzerland (Marketwired) - Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions, today announced Tyco has made an equity investment in RetailNext, an innovator in Big Data solutions for retail. RetailNext offers unique and comprehensive real-time analytics, particularly in the traffic intelligence space, empowering retailers to collect and analyze in-store data. Tyco will leverage this partnership to deliver added value to its global customer base of more than 185,000 stores.
"To best position RetailNext in the multi-billion dollar global retail analytics market, we were seeking investors who would bring core competencies to enhance our business," said Alexei Agratchev, Founder and Chief Executive Officer of RetailNext. "Tyco is a company with global reach and deployment capabilities, and we are privileged to have the company as a shareholder and strategic partner."
Retailers around the world rely on Tyco solutions to provide actionable insight into their business to improve operations and security, optimize profitability, and create memorable shopper experiences. With an open architecture approach, Tyco's TrueVUE Retail Platform enables retailers to leverage and integrate the power of blended store shopper, and employee data from multiple applications, sensor, and video devices. Retailers can gain visibility to valuable in-store activity through Tyco's portfolio of data capture devices, including cameras, readers, pedestals, antennas and sensors. Tyco's investment in RetailNext further underscores its strategic commitment to open innovation and standards, allowing retailers to conduct detailed, real-time analysis for improved merchandising, operations and customer service.
"Our organization has long been committed to finding innovative ways to add value for our customers. Whether through new services or technologies, our team is focused on driving and delivering actionable insights that solve significant retailer challenges," said Nancy Chisholm, Vice President and General Manager, Tyco Retail Solutions. "This equity investment in RetailNext complements our open innovation strategy and comprehensive portfolio of in-store devices. We are excited about the near-term and long-term benefits it will deliver to our customers."
About Tyco Retail Solutions
Tyco Retail Solutions is a leading global provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Customers range from single-store boutiques to global retail enterprises. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility to their inventory and assets to improve operations, optimize profitability and create memorable shopper experiences.
The Tyco Retail Solutions portfolio for retailers is sold direct through Tyco businesses and authorized business partners around the world. For more information, please visit TycoRetailSolutions.com or follow us on LinkedIn, Twitter, and our YouTube channel.
Tyco is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in annual revenue, Tyco has over 57,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit www.tyco.com.
RetailNext is the leader in applied Big Data for brick-and-mortar retail, delivering real-time analytics that enable retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The company's patented solution uses best-in-class video analytics, Wi-Fi, Bluetooth, data from POS systems, and other sources, to automatically inform retailers about how people engage with their stores. The highly scalable RetailNext platform easily integrates with promotional calendars, staffing systems, and even weather services, to analyze how internal and external factors impact customer shopping patterns, providing retailers with the ability to identify opportunities for growth, execute changes, and measure success. Headquartered in San Jose, CA, RetailNext is a growing global brand operating in 33 countries. For more information, visit www.retailnext.net.
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SOURCE: Tyco Retail Solutions